Summary: Pr-Nd oxide, Pr-Nd alloy and gadolinium products stayed flat in SMM’s September 18 afternoon update, while transactions remained dominated by small just-in-time orders. The market was waiting for clearer pre-holiday demand.
Afternoon quotations stayed within existing ranges
Shanghai Metals Market reported that praseodymium-neodymium oxide quotations remained stable on the afternoon of September 18. Suppliers kept offers within the existing range, while metal producers continued to ask for lower prices. The update did not identify a meaningful increase in transaction volume.
Gadolinium oxide and gadolinium-iron alloy quotations were also unchanged. Sellers maintained their prices, but actual transactions and new order follow-through remained limited.
Small orders defined the trading pattern
Pr-Nd alloy transactions were still driven mainly by small, immediate requirements. SMM described an inverted price structure and resistance to higher-priced deals, leaving metal producers with little room to adjust offers either upward or downward.
This kind of quiet afternoon market can be relevant to magnet manufacturers, but it is not a direct finished-product price list. The cost of a custom NdFeB component depends on the selected grade and heavy rare-earth exposure as well as geometry, yield, coating, magnetization, testing and order size.
What procurement teams should do next
For orders that must ship soon, buyers should focus on execution rather than trying to time a small raw-material movement. A useful RFQ should state:
- magnet material and grade;
- dimensions, tolerances and drawing revision;
- magnetization direction and magnetic acceptance method;
- coating and operating environment;
- sample quantity, annual volume and delivery schedule; and
- required traceability or inspection documents.
Wait for confirmed order follow-through
The afternoon update supports a picture of price stability with limited demand, not a decisive change in direction. The next meaningful signal will be whether pre-holiday orders expand and whether supplier offers convert into larger confirmed transactions.
Source: Shanghai Metals Market, September 18, 2026 at 16:56.